Lenovo Group Q4 profit surges more than three-fold

Credit: REUTERS/Bobby Yip

Lenovo Group reported a more than three-fold increase in its quarterly profit thanks to strong computer sales.

HONG KONG, May 23 (Reuters) - Lenovo Group 0992.HK reported a more than three-fold increase in its quarterly profit thanks to strong computer sales.

Lenovo's profit in the quarter ended March rose to $118 million, beating an average estimate of $91.4 million by seven analysts, according to Refinitiv data.

Revenue rose 10 percent to $11.71 billion, in line with the average estimate of $11.65 billion by 11 analysts.

For the full year ended March, Lenovo swung to a profit of $597 million, from a loss of $189 million a year earlier. Revenue rose to a record $51 billion.

(Reporting by Sijia Jiang; Editing by Anshuman Daga)

((Sijia.Jiang@thomsonreuters.com; +852 65313893;))

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